Terms & Conditions

Applicability. These terms are binding on all sellers intending to sell equipment to CBI Surplus, outlining the procedures and obligations for both parties.

Inspection Procedure. CBI Surplus will conduct a comprehensive inspection to ascertain the actual condition and specifications of the equipment, ensuring alignment with the seller's initial description. Variances or discrepancies from the initial specifications may result in adjusted offers.

Seller Responsibilities. Sellers are responsible for either arranging the logistics to transport the surplus equipment to CBI Surplus's facility for inspection or facilitating the means for an onsite inspection by CBI Surplus, if available. Sellers acknowledge that all final inspections will take place at CBI Surplus's facility, and the final offer is contingent upon the outcomes of these inspections.

Ownership Verification. By offering equipment for sale to CBI Surplus, the seller legally asserts that they are the rightful owner of the goods and that these goods are free from any liens, encumbrances, or legal disputes. This representation is a fundamental condition of the sale and is relied upon by CBI Surplus in good faith.

Proof of Ownership. To ensure the legitimacy of the transaction, CBI Surplus reserves the right to request and review documentation proving ownership and clear title of the equipment. This may include, but is not limited to, purchase receipts, manufacturer's documentation, or any other legal documents that establish the seller's ownership rights.

Indemnification for Title Discrepancies. In the event of a dispute arising from a claim of unclean title or lack of rightful ownership, the seller agrees to indemnify and hold harmless CBI Surplus from any and all claims, losses, expenses, or liabilities. This indemnification includes, but is not limited to, legal fees and costs incurred by CBI Surplus in relation to such disputes.

Transfer of Title. The transfer of title from the seller to CBI Surplus will occur only upon the successful completion of the sale and in accordance with the agreed-upon terms. CBI Surplus's acceptance of the equipment and completion of the purchase signifies the transfer of ownership, free of any previous encumbrances.

Seller's Warranties. The seller warrants that the equipment is their property to sell and that there are no undisclosed encumbrances or third-party interests in the equipment. The seller will be liable for any breach of these warranties.

Payment Procedure. Following the successful inspection of the equipment and acceptance of the purchase proposal by both parties, CBI Surplus commits to processing the payment within 3 business days.

Payment Methods. The payment will be made via the method previously agreed upon with the seller, which may include bank transfer, electronic payment systems, or other mutually acceptable methods.

Condition Precedent. The initiation of the payment process is contingent upon the receipt and satisfactory inspection of the equipment at CBI Surplus's facility. Equipment must meet all the specified conditions as per the initial agreement.

Discrepancy and Dispute Handling. In the event of a discrepancy between the equipment's received condition and the initial description, or any disputes arising thereof, payment may be withheld or delayed. CBI Surplus will communicate such issues promptly to the seller to seek resolution. A revised payment schedule may be negotiated in cases where discrepancies are rectified.

Documentation and Invoicing. The seller is required to provide all necessary documentation, including a valid invoice, as part of the payment process. Invoices must match the terms agreed upon and reflect any adjustments made following the equipment inspection.

Anti-Counterfeit Assurance. Verification of equipment's authenticity and OEM origin is critical. Sellers are obligated to verify the authenticity, providing evidence of OEM origin if requested by CBI Surplus.

Shipping Protocol. The seller is responsible for all initial shipping arrangements and costs associated with transporting the equipment to CBI Surplus's facility for inspection. These costs will be reimbursed by CBI Surplus following a successful inspection, which confirms the equipment meets all specified standards and conditions. Reimbursement is contingent on adherence to agreed shipping methods and cost rationalization.

Alternative Arrangements. In certain instances, alternative shipping terms may be negotiated and agreed upon in writing prior to the shipment of equipment. These exceptions are subject to mutual agreement and will be documented as an amendment to the standard terms and conditions.

Responsibility and Risk. Until the successful completion of the inspection at CBI Surplus's facility, the risk of loss or damage to the equipment during transit remains with the seller. Sellers are advised to ensure adequate insurance coverage for the equipment during shipping.

Privacy Assurance. All interactions and transactions remain confidential. Confidential information includes transaction details, equipment specifications, and communications between CBI Surplus and the seller.

Liability Exclusion. CBI Surplus is not liable for damage or loss during shipping. This limitation applies to circumstances directly attributable to CBI Surplus's actions.

Inspection and Assessment Criteria. CBI Surplus exercises a rigorous inspection process to evaluate the condition, functionality, and compliance of the equipment with the provided specifications. This comprehensive assessment is critical to ensure that all equipment meets our high standards of quality and performance.

Right to Reject. Based on the outcomes of this inspection, CBI Surplus maintains the unequivocal right to reject any equipment that does not meet the stipulated standards. Grounds for rejection include, but are not limited to, non-compliance with the agreed-upon specifications, substandard condition, discrepancies in functionality, or any deviations from the conditions described by the seller.

Notification of Rejection. In the event of rejection, the seller will be promptly notified, with a detailed explanation provided regarding the specific reasons for rejection. This communication aims to maintain transparency and clarity in our business transactions.

Post-Rejection Process. Upon rejection, the equipment will be deemed the responsibility of the seller. The seller may choose to retrieve the equipment at their expense or discuss potential remediation steps if feasible. CBI Surplus will offer guidance on the necessary actions to meet the acceptance criteria, should the seller opt for remediation.

Amendment Procedure. Written mutual agreement required for any amendments. Amendments must be annexed to this agreement.

Jurisdiction. Transactions and any disputes are governed by the laws of New York, USA.

Resolution Mechanism. Disputes will be resolved through negotiation or, if necessary, legal proceedings in an Albany, New York court.

Warranty Obligations. Sellers must disclose any remaining manufacturer warranties, including scope and duration.

Indemnity Assurance. Sellers are responsible for indemnifying CBI Surplus against claims related to the equipment's pre-existing conditions.

Communication Channel. Notifications must be in writing, sent via email or postal mail to designated addresses.

Offer Validity. Offers are valid for 30 days from issuance. Acceptance post-expiry may require a re-evaluation.

Acceptance Procedure. Acceptance is confirmed upon verbal or written acceptance of the sales agreement.

Condition Requirements. Equipment must match the condition described during the initial assessment. Any variation may lead to adjustments in the offer.

Declination Rights. CBI Surplus may decline purchases if the equipment does not match the provided description or fails to meet quality standards.

Force Majeure. Neither party is liable for failures due to events beyond their reasonable control.

Entire Agreement. This document represents the full agreement between the parties, superseding all prior discussions.